Brennan and Arch Street sell 2.3msf net-lease portfolio

Brennan Investment Group and Arch Street Capital Advisors have sold a four-building portfolio with a combined square footage of 2,3 million square feet. The assets are located in Bellingham, Mass.; Lawrenceville, Ga.; Butner, N.C.; and Frederick, Md.

The portfolio, a joint venture between Brennan and Arch Street, was originally acquired in January 2018 and recently sold to two private institutional real estate investment firms. The tenant, BlueLinx Corp., is a distributor of building and industrial products in the United States and operates through a broad network of distribution centers.

“We remain active in the net-lease business and will pursue opportunities across the United States, particularly for mission-critical properties leased to middle-market tenants,” said Gautam Mashettiwar, senior vice president of Arch Street. “Brennan and Arch Street will continue to seek new acquisitions for our active net-lease investment vehicle, USIPA III.”